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Occupational rent explained

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Cape Town - The payment of occupational rent is a standard clause in almost every property sales contract, and yet it is also one of the more common causes of contention between buyers and sellers.

Confusion abounds over who is responsible for what, and when these payments should come into play, and disagreements over the details can and have caused many a sale to fall through.

“Occupational rent is also known as occupational interest, designed to protect both the buyer and the seller,” says Bill Rawson, chair of the Rawson Property Group.

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